Bankless · Friday, July 31, 2026
The ratio between Ethereum (ETH) and Bitcoin (BTC) has historically trended downwards for four years, but recent data suggests a potential breakout. This shift could indicate a strengthening of Ethereum's position relative to Bitcoin, although analysts caution that it's still early to confirm a sustained reversal.
“The ETH-BTC ratio has been on a four-year downtrend, a four-year of terrible vibes. Look at this chart. This is a whole... This is a terrible chart.”
“But if you zoom in, you can see it. You can see it. Is it breaking a trend line? At the very end... ETH BTC is poking through this like four year downtrend.”
“And so the next question is like, okay, if it's going to stop going down versus Bitcoin, the next question is like, where does it go to next? And I think you can see sentiment shift in the ETH.”